October 5, 2022

General Electric Managed to Keep Their Tax Return Under 60,000 Pages

Recently, Congressman Paul Ryan (R-WI) was chattin’ up some citizens at a townhall meeting where he told a little anecdote about asking a GE “tax officer” how long the company’s tax return was for this year. He was told (and the Weekly Standard confirmed) that it was in the nabe of 57,000 pages. Granted, GE filed their return electronically, so there’s no way we can officially know what the count is but the combination of the world’s best tax law firm and a grip of savvy loaned KPMG employees managed to keep it under 60k. Nice job, everyone. [TWS via TaxProf]

Recently, Congressman Paul Ryan (R-WI) was chattin’ up some citizens at a townhall meeting where he told a little anecdote about asking a GE “tax officer” how long the company’s tax return was for this year. He was told (and the Weekly Standard confirmed) that it was in the nabe of 57,000 pages. Granted, GE filed their return electronically, so there’s no way we can officially know what the count is but the combination of the world’s best tax law firm and a grip of savvy loaned KPMG employees managed to keep it under 60k. Nice job, everyone. [TWS via TaxProf]

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Related articles

a speech bubble

Immigrants Aren’t Ethical and Don’t Properly Report Their Income, Says Guy Who Reads Accounting Today

Yesterday morning, Accounting Today published a few letters from readers sent in response to AT’s August 26 article titled Do we need accounting firms? Editor-In-Chief Daniel Hood specifically invited reader comment when he asked out loud if we can do without accounting firms and, as expected, there were comments to be had. Like Randy Crabtree, […]

an artsy pic of a lightbulb

Understanding the §179D Tax Deduction for Humans, Part 2

Examining the effects of the Inflation Reduction Act on §179D Welcome to part two of our series on the IRS Section 179D tax deduction. We explained how the §179D tax deduction works and who qualifies for it in part one. For this entry, we’ll take a look at the future of our plucky lil’ write-off […]